ProShare Advisors LLC Sells 12,346 Shares of The Gorman-Rupp Company (NYSE:GRC)

ProShare Advisors LLC reduced its holdings in The Gorman-Rupp Company (NYSE:GRC - Free Report) by 6.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 191,057 shares of the industrial products company's stock after selling 12,346 shares during the period. ProShare Advisors LLC owned 0.73% of Gorman-Rupp worth $7,245,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its stake in Gorman-Rupp by 91.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 24,711 shares of the industrial products company's stock valued at $937,000 after buying an additional 11,827 shares during the last quarter. Vontobel Holding Ltd. acquired a new stake in Gorman-Rupp in the 4th quarter valued at $935,000. Pinnacle Wealth Planning Services Inc. increased its stake in Gorman-Rupp by 81.8% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 16,216 shares of the industrial products company's stock valued at $615,000 after buying an additional 7,294 shares during the last quarter. Aurora Investment Counsel acquired a new stake in Gorman-Rupp in the 4th quarter valued at $2,083,000. Finally, Raymond James Financial Inc. acquired a new stake in Gorman-Rupp in the 4th quarter valued at $1,100,000. 59.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Gorman-Rupp from a "buy" rating to a "strong-buy" rating in a report on Friday, April 25th.

Gorman-Rupp Stock Performance

Shares of GRC stock traded down $0.39 on Friday, reaching $36.12. The stock had a trading volume of 69,550 shares, compared to its average volume of 79,576. The company has a quick ratio of 1.38, a current ratio of 2.39 and a debt-to-equity ratio of 0.99. The firm's 50-day moving average is $35.49 and its two-hundred day moving average is $37.88. The firm has a market capitalization of $949.69 million, a price-to-earnings ratio of 23.61, a P/E/G ratio of 1.54 and a beta of 1.20. The Gorman-Rupp Company has a 12 month low of $30.87 and a 12 month high of $43.79.

Gorman-Rupp (NYSE:GRC - Get Free Report) last issued its earnings results on Thursday, April 24th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.02. The company had revenue of $163.95 million for the quarter, compared to analysts' expectations of $164.84 million. Gorman-Rupp had a net margin of 6.08% and a return on equity of 12.79%. On average, research analysts expect that The Gorman-Rupp Company will post 1.98 EPS for the current fiscal year.

Gorman-Rupp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 15th will be paid a $0.185 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.74 dividend on an annualized basis and a yield of 2.05%. Gorman-Rupp's dividend payout ratio (DPR) is currently 43.79%.

About Gorman-Rupp

The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems in the United States and internationally. The company's products include self-priming centrifugal, standard centrifugal, magnetic drive centrifugal, axial and mixed flow, vertical turbine line shaft, submersible, high-pressure booster, rotary gear, diaphragm, bellows, and oscillating pumps.